Landlords, Please Come Here

[lilly]

Landlords, questions for you:

1. Do you go with Renters Warehouse to get you a tenant or do you look for a tenant on your own?
    a.  If you go with Renters Warehouse:
         i.  Do you like Renters Warehouse?  Why or why not?
         ii. Do they take care of the lease and everything for you?

    b.  If you do it yourself:
         i.  What credit score do you require your renters to have?
         ii. Do you ask that your renters mow the lawn or do you cut the grass for the renters?  Do you shovel snow or ask the renters to shovel the snow?
         iii. Do you pay for any utilities for your tenants?  Trash or water, or both?
         iv. Which is the best way to advertise your house for rent?
         v. How do you choose your renters?  What criteria do you use?  High credit score, rental history, monthly income? 
         vi. How do you check the renter's rental history? 
         vii. Are you allowed to ask renters what their monthly income is (so you know whether they can afford your place or not)?

2. Should you leave the walls in your rental white or should you update the wall paint colors to be more modern to attract renters?

3. Should you update counter tops?  Other things?

4.  Or, if things are still functional in the house, do you need to do any updating at all?  Will renters care whether your place is the most updated or not?  Will they pay more if your house is updated?

[Reporter]

There's a fee. So, I prefer my own way.

If you just mention to some Hmong you have a place, they'll start spreading the words faster than any radio does.

[lilly]

There's a fee. So, I prefer my own way.

If you just mention to some Hmong you have a place, they'll start spreading the words faster than any radio does.

OK.  Thanks, Reporter!  How do you choose your renters?  What criteria do you use?

[Mr_Mechanic]

sounds like a bad head aces for me already.

[lilly]

sounds like a bad head aces for me already.

Mr_Mechanic, be positive mas!       

[Mr_Mechanic]

I'm being positive.....p ositively sure i'll get a headache if I were to get a lousy tenant.

[hmgROCK]

Landlords, questions for you:

1. Do you go with Renters Warehouse to get you a tenant or do you look for a tenant on your own?
    a.  If you go with Renters Warehouse:
         i.  Do you like Renters Warehouse?  Why or why not?
         ii. Do they take care of the lease and everything for you?

    b.  If you do it yourself:
         i.  What credit score do you require your renters to have?
         ii. Do you ask that your renters mow the lawn or do you cut the grass for the renters?  Do you shovel snow or ask the renters to shovel the snow?
         iii. Do you pay for any utilities for your tenants?  Trash or water, or both?
         iv. Which is the best way to advertise your house for rent?
         v. How do you choose your renters?  What criteria do you use?  High credit score, rental history, monthly income? 
         vi. How do you check the renter's rental history? 
         vii. Are you allowed to ask renters what their monthly income is (so you know whether they can afford your place or not)?

2. Should you leave the walls in your rental white or should you update the wall paint colors to be more modern to attract renters?

3. Should you update counter tops?  Other things?

4.  Or, if things are still functional in the house, do you need to do any updating at all?  Will renters care whether your place is the most updated or not?  Will they pay more if your house is updated?

your PH finance guy, here

my advice to you is: just sell it
save you the headache and pain

you still have a mortgage on it?
that why you renting it out???

[lilly]

your PH finance guy, here

my advice to you is: just sell it
save you the headache and pain

you still have a mortgage on it?
that why you renting it out???

It makes more sense for me to rent it.   

[hmgROCK]

stock market just hit all time high
should start thinking about Selling


buy low, sell high

save the cash
come buy again when we hit a recession

[lilly]

stock market just hit all time high
should start thinking about Selling


buy low, sell high

save the cash
come buy again when we hit a recession

I thought about selling but I LOVE my house.  Someday, the rental will go to my son since he loves it so much and the new house will go to my daughter. 

[hmgROCK]

It makes more sense for me to rent it.   

no
don't fall for those rental property gimmick

your $1,600/ month
= $19,200 annually

minus the taxes, fee, and maintenance
you might end up with $10-15kish annually

vs.


if you sell it for $300,000 and put that into the market that get about 7% interest rate
= $21,000 annually minus the headache and 2 am snow shoveling


just using example. i don't know the houses price in MN

[Reporter]

I'm not too picky. I just want a deposit for the first and last month of rent and their income.

If they have criminal backgrounds or if they do crimes while there, I just let the cops handle them. I don't care to look into their DUIs other criminal backgrounds.

OK.  Thanks, Reporter!  How do you choose your renters?  What criteria do you use?

[hmgROCK]

I thought about selling but I LOVE my house.  Someday, the rental will go to my son since he loves it so much and the new house will go to my daughter. 

i use to do accounting work
and like i told many PH in here

if you own a $400k mortgage
with $100k paid off
you are -$300k in the hole

a poor homeless person with no debt in the street has more money than you   

[lilly]

I'm not too picky. I just want a deposit for the first and last month of rent and their income.

If they have criminal backgrounds or if they do crimes while there, I just let the cops handle them. I don't care to look into their DUIs other criminal backgrounds.

Thank you for your feedback, Reporter!   

[Reporter]

You're welcome.

And what do you look for in a tenant?

Thank you for your feedback, Reporter!